Canadian Solar Gets $46 Million Loan From Manulife (1)

Oct. 8 (Bloomberg) — Canadian Solar Inc., the third-best
performing solar manufacturer in the past year, is receiving a
C$51 million ($46 million) loan from Manulife Financial Corp.
for a project in Ontario.

Manulife is providing construction and term financing for
the 10-megawatt RayLight solar farm in Wyebridge, Guelph,
Ontario-based Canadian Solar said today in a statement. Terms of
the loan weren’t disclosed.

Concord Green Energy Inc. will acquire the solar farm,
which is expected to be connected to the grid in the fourth
quarter. BowMont Capital and Advisory is advising Concord on the
purchase.

Canadian Solar rose 0.4 percent to close at $32.83 in New
York. In the last 12 months, the stock has gained about 80
percent, trailing only REC Solar ASA and SunEdison Inc. in the
17-member Bloomberg Intelligence Global Large Solar Index.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar

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